- Exclusive buyer agent
An Exclusive Buyer Agent (or EBA) is a
United States real estate firm (or an agent or broker who works in such a company) which represents only buyers of real estate. As such, they are distinguished from all other real estate firms by their business model of 100% buyer representation. EBA firms never take listings and, therefore, never represent the seller in a real estate transaction.Exclusive buyer agent firms have chosen this business model in order eliminate the conflict of interest which exists when one firm attempts to represent both buyer and seller in the same transaction.
History
The EBA movement started in the late 1980's and, by the early 1990s as with the rise of Buyer agency in general in US states, firms came into being and a national trade association, the National Association of Exclusive Buyer Agents, was formed. As of 2008, EBA firms offer service to buyers in almost all 50 states.Fact|date=May 2008
Ordinary real estate firms in the US can represent both buyers and sellers in the same transaction, and when representing both, derive profit from both the seller and buyer side of the transaction. While some states have, at the insistence of Realtor® trade groups, created various forms of Dual Agency to allow one company (but not one agent) to represent both sides, other states have continued to hold such practices as illegal. In the opinion of EBAs, it is not possible to faithfully represent clients with opposing interests simultaneously.Fact|date=May 2008
Method of exclusive service
The service structure for EBA real estate practitioners is to show buyers all possible listings from other cooperating brokers as well as all other sources, such as
for sale by owner s. Then, they assist the buyer with evaluation and negotiation and advocate in the buyer's best interests without restriction.EBA firms amount to less than 1/2 of 1 percent of all real estate firms in the US.Fact|date=May 2008 The EBA business model of unconflicted buyer representation eliminates the possibility of the buyer being confronted with the conflicts of interest which may be associated with the Dual, Limited or Designated Agency business models.
References
External links
* [http://www.naeba.org/ National Association of Exclusive Buyer Agents official website]
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